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Odisha to use artificial intelligence in organisation audit in big way

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BHUBANESWAR: In its bid to ensure greater fiscal accountability, effective resources management and increased productivity, the state government is set to go for integration of artificial intelligence (AI) in the financial auditing mechanism for its organisations in a big way. The Directorate of Local Fund Audit (DLFA) has started work on an AI project that is aimed at reshaping organisational accountability and bringing about greater trust on Government institutions. It is already seeking advisory services from experts for the successful implementation of the technology infusion in local fund audit automation. The Government has appointed Professor (Information Systems) of XIMB Sanjay Mohapatra as Advisor to the AI implementation committee of DLFA. He will assist LFA to develop a comprehensive strategy to analyze processes and develop implementation plans for AI-enabled automation and advise on available options and capabilities along with skilling of officials As per the project, the audit of organisations will be conducted using various components of AI like machine learning, deep learning, natural language processing and computer vision.


Council Post: AI Is Amazing But Complicated, And We Don't Necessarily Need To Plunge In Headfirst

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Eric Hutto is President and Chief Operating Officer at Unisys Corporation. Artificial intelligence (AI) can help humans address many challenges, but it also creates challenges. We know AI has biases. We understand that AI may or may not draw fair and ethical conclusions all the time. Yet it's clear that AI is going to happen anyway.


4 Free Math Courses to do and Level up your Data Science Skills - KDnuggets

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For a lot of higher-level courses in Machine Learning and Data Science, you find you need to freshen up on the basics in mathematics -- stuff you may have studied before in school or university, but which was taught in another context, or not very intuitively, such that you struggle to relate it to how it's used in Computer Science. This specialization aims to bridge that gap, getting you up to speed in the underlying mathematics, building an intuitive understanding, and relating it to Machine Learning and Data Science. TIP: most of Coursera's courses and specializations have the option to audit them. You won't get a certificate, but you'll access most of the resources of the course--something I personally found more than enough. At the moment of enrolling, just select the option to audit the course.


Six things CCOs need to know about ICO's AI guidance

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The 122-page publication, called "Explaining decisions made with AI" and written in conjunction with The Alan Turing Institute, the U.K.'s national center for AI, hopes to ensure organizations can be transparent about how AI-generated decisions are made, as well as ensure clear accountability about who can be held responsible for them so that affected individuals can ask for an explanation. It does not directly reference AI or any associated technologies such as machine learning. However, the General Data Protection Regulation (and the U.K.'s 2018 Data Protection Act) does have a significant focus on large-scale automated processing of personal data, and several provisions specifically refer to the use of profiling and automated decision-making. This means data protection law applies to the use of AI to provide a prediction or recommendation about someone. The ICO suggests compliance teams (including the DPO) and senior management should expect assurances from the product manager that the system the organization is using provides the appropriate level of explanation to decision recipients.


CEO of tech start-up talks AI in finance

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Shamus Rae, CEO of tech start-up Engine B, and Kirstin Gillon, Technical Manager in ICAEW's IT Faculty, consider the progress made by AI within finance. Shamus Rae (SR): I look at AI hitting the profession in three stages. Stage one is the different focus on play. The second stage is about process efficiency, and the third one is driving business model change and the service delivery of a specific service like audit. Different firms are at different stages of using AI.


Is artificial intelligence making racial profiling worse?

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REVERB is a new documentary series from CBSN Originals. Throughout its history, the LAPD has found itself embroiled in controversy over racially biased policing. In 1992, police violence and the acquittal of four police officers who beat black motorist Rodney King culminated in riots that killed more than 50 people. Many reforms have been instituted in the decades since then, but racial bias in LA law enforcement continues to raise concerns. A 2019 report found that the LAPD pulled over black drivers four times as often as white drivers, and Latino drivers three times as often as whites, despite white drivers being more likely to have weapons, drugs or other contraband.


Tesla owner says remotely disabled Autopilot features have been restored

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Tesla has restored the Autopilot driver assistance features it remotely disabled on a used Model S, just days after Jalopnik published a story about the customer's ordeal. The owner, who Jalopnik simply referred to as Alec, confirmed to The Verge that the features are back after The Next Web spotted new Tesla Motors Club forum posts he wrote earlier this week. Alec said he was contacted by a Tesla customer experience rep who "apologized for my troubles, told me that Tesla has restored all missed options" and "cited a miscommunication" as the reason why the company pulled the Autopilot features in the first place. Alec had purchased the used 2017 Model S in December from a third-party dealer that acquired the car from Tesla at auction in November. The original owner had equipped the car with the (now-retired) "Enhanced Autopilot" version of Tesla's driver assistance package and the company's "Full Self-Driving" package, which promises increased autonomy over the years.


Before Strategizing, Conduct an AI Audit

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Studies forecast that AI will boost profitability by an average of 38% by the year 2035. If an AI program interpreted this data, the result would be conclusive: Artificial intelligence is quickly becoming one of the economy's sharpest competitive edges. According to McKinsey & Company, just 47% of executives report embedding AI into one business process, and only 21% report implementing AI in multiple ways. While the technology is progressing at historically unprecedented rates, the majority of enterprises still face either barriers to entry or difficulty determining next steps. Whether a company is beginning its journey with AI, or ready to take the next measured step, it's essential to conduct a comprehensive AI audit.


Big Four Invest Billions in Tech, Reshaping Their Identities

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The Big Four accounting firms, through an unprecedented investment of billions into technology, are transforming not just how they operate, but also their very identities. The tech crusade goes far beyond automating standard auditing and accounting work. Through a focus on artificial intelligence, data analytics, and massive tech training throughout their organizations, the biggest players in accounting are making tech part of their DNA. "We haven't become a pure technology firm," Christian Rast, KPMG LLP's global head of technology & knowledge said in a recent phone interview. "We are a professional services firm, but technology is core to our future."


Artificial Intelligence and Internal Audit: A Pragmatic Perspective - The Protiviti View

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Companies have high hopes for transformational technologies, especially those that leverage the vast amount of data being collected. Approaches using methods such as artificial intelligence (AI), machine learning (ML) and deep learning are becoming increasingly accessible and gaining significant traction, as they allow for deep insights to be extracted from large and varied data sets. As noted in the 2019 IT Audit survey by Protiviti and ISACA, this transformation has the potential to fuel long-term growth. However, as Protiviti's recent global AI survey reveals, most companies are still at the starting gate when it comes to figuring out the answers to basic questions: What are the possible use cases for AI? Can we measure ROI? What data do we have and how usable is it?